Regulation
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Fox Business journalist Eleanor Terrett shared the irony that Jay Clayton and William Hinman found themselves in a position to unintentionally support Ripple.
Terrett tweeted that Jay Clayton, the former SEC chairman who initiated the lawsuit against Ripple Labs, Brad Garlinghouse and Chris Larsen, alleging that XRP is a security, is now indirectly supporting Ripple. He does this while working at Electric Capital, which in turn is part of the Crypto Council for Innovation (CCI), one of the companies that have decided to apply for support from Ripple Labs.
Clayton joined Electric Capital as an advisor in August of this year.
Irony at its finest: Jay Clayton and Bill Hinman are now inadvertently supporting @Ripple through their associations with @ElectricCapital and @a16z , who are both members of @crypto_council .
“So CCI represents the views of industry veterans…” 👇🏼 https://t.co/hZXJsBBskT
— Eleanor Terrett (@EleanorTerrett) November 1, 2022
William Hinman, a former director of the SEC who gave a speech in 2018 calling Ethereum a non-securities asset, has joined Andreessen Horowitz’s board of directors. This company and Electric Capital are members of the Crypto Council. The organization was among four that have applied in the past 24 hours to apply to support fintech firm Ripple.
In addition to the Crypto Council, Amicus’ requests came from exchange Coinbase, venture capital firm Valhil Capital, and CryptoLaw founder John E. Deaton.
#Jay #Clayton #sued #Ripple #supports #court
